339: Low Mortgage Interest Rates For Income Property with Caeli Ridge
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 5 April 2021
⏱️ 40 minutes
🧾️ Download transcript
Summary
Learn how to bring as little money as possible to the property closing table.
Ridge Lending Group President Caeli Ridge tells us how to do this. She also predicts the future interest rate direction.
Mortgage interest rates hit all-time lows three months ago. Freddie Mac has tracked rates since 1971.
The 30-year fixed rate mortgage debuted in America in 1948. It’s an incredible tool that few, if any, other world nations have.
Before this, it took a 50% down payment and refinancing every 3-5 years.
Mortgage rates have been falling for 700 years! From the year 1311, we look at interest rate history in the French Crown, Spanish Crown, Italian merchants in Milan, Genoa.
The latest marker of today’s low housing supply is the fact that there are currently more real estate agents than available homes.
Is rush hour traffic a thing of the past? We explore this.
Caeli Ridge helps us understand the ominous new 7% Fannie Mae funding limit on single-family mortgages on second homes and investment properties. Result = higher loan prices.
Does it make sense to pay discount points at the closing table? Discount points are like prepaid interest. We explore pros and cons.
Often, a seller can pay up to 2% of your purchase closing costs.
Caeli predicts the future direction of interest rates. I’m refinancing properties with Ridge myself right now. Start at: www.RidgeLendingGroup.com
Resources mentioned:
Get mortgage loans for investment property:
Show Notes:
Early 1900s Mortgage Rate Charts:
https://www.thetruthaboutmortgage.com/check-out-these-mortgage-rate-charts-from-the-early-1900s/
Interest Rates Have Been Falling For 700 Years:
https://www.visualcapitalist.com/700-year-decline-of-interest-rates/
There Are More RE Agents Than Homes For Sale:
New Construction Turnkey Property:
Ali Boone’s Recommended Book:
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Transcript
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| 0:00.0 | Welcome to Get Wirt's Education. I'm your host Keith Weinhold. Interest rates have been falling for 700 years, and your ability to borrow for three decades of level payment certainty for property today really is astounding. We're talking all about interest rates today, as well as a prediction about their future direction, a remarkable revelation about how scarce |
| 0:21.3 | available property is today. How do you bring as little money as possible to the closing table |
| 0:26.3 | when you purchase or refinance a property all today on Get Rich Education? |
| 0:33.1 | A lot of investors choose either cash flow or home price appreciation, but one real estate market could provide both. |
| 0:39.9 | Jacksonville, Florida. |
| 0:41.3 | With 27% lower home prices than the national median and 1% higher rents, their market has appreciated 34% more than other comparable cash flow markets over the last 30 years. |
| 0:52.5 | Get positive cash flow today and appreciation for tomorrow. |
| 0:56.3 | They often have available inventory in Jacksonville. Start at cashflow and growth.com. |
| 1:05.0 | Hey, is your IRA in a real estate syndication? Yikes, a 37% Ubit tax could hit you, but you still have a chance to set up |
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| 1:25.9 | Even put old IRA and 401k money in Bitcoin, gold, or your own business. |
| 1:30.4 | Get control of all of your retirement money, tax and penalty-free. |
| 1:34.1 | Text EQRP in all-cap of letters to 72,000. |
| 1:40.2 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:47.5 | This is Get Rich Education. |
| 2:08.8 | Welcome to GRE. I'm your host Keith Winehold and I'm bringing you episode 339 from a comfortable Henderson, Nevada today. If you can agree that when you think about it, your money is a store |
| 2:16.1 | of your time and energy. An interest rate is the cost of money. |
| 2:21.0 | So therefore, then, an interest rate is the cost of your time and energy. That's why it's a |
| 2:29.5 | critical measure of your economic life. Well, this is the 50-year anniversary of the start of us having some good |
| 2:37.5 | reliable measures of what 30-year mortgage interest rates have been over time, because that's when |
| 2:43.1 | Freddie Mac began tracking them in April of 1971. And by the way, do you have any idea of what |
... |
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